Ferrari N.v. Places Eur 150 Million in Bonds With U.s. Private Investors, Due 2032
Rhea-AI Summary
On July 29, 2021, Ferrari N.V. (NYSE: RACE) announced the completion of a private placement of EUR 150 million in 0.91% senior notes due 2032. The offering targets specific US institutional investors and aims to raise funds for general corporate purposes. This move strengthens Ferrari's financial position and provides liquidity for future investments.
Positive
- Completed private placement of EUR 150 million in senior notes.
- Interest rate of 0.91% provides favorable borrowing conditions.
Negative
- None.
News Market Reaction – RACE
In the trading session that priced this news, RACE gained 1.88%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Maranello (Italy), 29 July 2021 – Ferrari N.V. (NYSE/MTA: RACE) (“Ferrari” or the “Company”) today announced that it has completed a private placement to certain US institutional investors of EUR 150 million aggregate principal amount of
The net proceeds from the offering will be used towards general corporate purposes.
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